Last Updated May 21, 2010
Russia’s VTB Bank and UBS Switzerland have signed a CHF250mn (US$217mn) framework loan agreement.
The agreement will see UBS provide VTB with long-term financing in a number of currencies, including Swiss francs, US dollars and the euro.
The money will be used to finance the acquisition of goods and services by Russian importers from countries under the guarantees of national export insurance agencies, including Switzerland.
VTB is considering a number of Russian import projects which could benefit from the facility.
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